§ Mr. Sharpasked the Secretary of State for War on what date in early 1946 was the rate of exchange of lire to the £for British troops in C.M.F. devalued from 400 lire to 900 lire to the £what were the conditions under which Servicemen holding lire at that time could receive compensation; and whether the alteration in the £to lire exchange rate came into operation at the same time.
§ Mr. BellengerThe British military rate of exchange in Italy was altered from 400 lire to 900 lire to the £ with effect from 3oth January, 1946. British troops were compensated for the loss on the lire they held at the time by being given five additional lire for every four held, up to the level of their total pay drawings since 1st January, 1946. The change brought the military rate approximately into line with the rate obtained by Italian exporters.